Omni creditors left counting pennies

Omni Solutions' creditors were told at a creditors' meeting last week that they were unlikely to receive any money owed to them.

Omni, which went into administrative receivership on 3 August, was managing director Mike Penny's second company to leave channel creditors out of pocket (PC Dealer, 23 September).

A source said: 'A statement of affairs has yet to be provided, so we don't know how much is owed. But a creditors' list shows 114 firms are owed #454,000.'

He added that Maurice Dorrington, an accountant at administrative receivers Poppleton & Appleby, told creditors that a debenture of more than #200,000 had already been paid to factoring company Singer and Friedlander Factors.

The second debenture of #47,000 for Barclays Bank was being dealt with.

The source said Dorrington admitted he was 'not happy' about the third debenture granted to employment recruitment consultancy Everstreet for #40,000.

According to estimated figures, #300,000 will be recovered from trade debtors.

Sources claimed the largest channel creditor was ETC, owed #71,000, followed by Ideal Hardware, owed #30,000. ICL Multivendor Computing and Osmosis were also listed.

Penny refused to comment. He was also director of Penny & Evans liquidated in 1993, owing #1 million.